LONDON, April 11 (Reuters) - Britain's finance ministry
named Megan Greene, the chief economist at Kroll, on Tuesday to
succeed Silvana Tenreyro on the Bank of England's Monetary
Policy Committee (MPC) after Tenreyro's term ends in July.
Tenreyro, a professor at the London School of Economics
(LSE), joined the MPC in July 2017 and will soon have completed
her second three-year term, the maximum for an external member
of the committee.
She is one of the most dovish BoE rate setters and has voted
against raising interest rates since last December.
The BoE has raised interest rates 11 times since December
2021, taking rates to 4.25% from 0.1% as it has tried to keep a
lid on inflation and return it to its 2% target.
Before Greene, the most recent appointee to the nine-member
MPC was another LSE academic, Swati Dhingra, who joined the MPC
in August 2022 and has also voted against recent rate rises.
Dhingra replaced former Citi economist Michael Saunders, who
voted for faster rate rises than most other policymakers in the
first half of 2022.
Consumer price inflation peaked at a 41-year high of 11.1%
in October and was still in double digits when February data was
released last month. The BoE expects CPI to fall sharply in the
current quarter and to be below 4% by the end of this year.
(Writing by David Milliken, editing by William James)
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